TMCnet News
NXGen Obtains $1.65 Million in Equity FinancingBREMERTON, Wash. --(Business Wire)-- NXGen, Inc. (Pink Sheets:NXGH), an emerging company focused on providing asset-tracking solutions to commercial fleet operations, announced today it has obtained a commitment, providing the Company with $1.65 million in equity financing over the next twelve months. Gene Hew-Len, CEO, stated, "We are extremely pleased to obtain this financing as it will permit NXGen to fully implement our sales program during the next year. We have identified a substantial number of potential customers which integrate with NXGen's service offering. Thus far, we are very enthusiastic about customer responses in the early stage of our sales program and remain confident NXGen will be profitable in fiscal 2008. The $1.650 million in equity is a critical step toward the fulfillment of our corporate vision." NXGen Holdings, Inc., through its wholly owned subsidiary NXGen, Inc., is focused on providing solutions to commercial fleet operators, enhancing their productivity and operating efficiencies. NXGen specializes in the emerging, multi-billion-dollar GPS/telematics industry. NXGen's mission is to become a recognized leader in this industry by aggressively investing in new acquisitions, building strategic alliances and securing strategic partnerships with companies on the cutting edge of the GPS and telematics development -- thereby creating value for its shareholders. For more sales and product information please visit the company website at www.nxgengps.com or call 360-782-0169. For investment information please contact ATG Capital at 858-764-1820 or [email protected]. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Although NXGen Holdings, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any assumption could be inaccurate and, therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by NXGen Holdings, Inc. or any other person that the objective and plans of NXGen Holdings, Inc. will be achieved. |
